Retail trade in Montenegro saw a 6.9% increase in turnover in the first quarter of 2025 compared to the same period in 2024, with a 4.8% increase in constant prices, according to the latest data from the Statistical Office of Montenegro (Monstat).
In comparison to the fourth quarter of the previous year, retail turnover dropped by 17.1% in current prices and 18.5% in constant prices.
Monstat’s data further reveals that the turnover in retail trade of motor fuels in Q1 2025 was 8.6% higher than in Q1 2024, while it decreased by 11.2% compared to the fourth quarter of 2024.
Food retail
The retail turnover in food sales increased by 4.9% in Q1 2025 compared to the same period last year, but showed a decrease of 16.5% when compared to the fourth quarter of 2024.
Retail turnover in pharmaceutical and cosmetic products grew by 7.7% in Q1 2025 compared to Q1 2024, but dropped by 5.6% in comparison to Q4 2024, according to Monstat. The turnover in retail trade of other non-food products was up by 9.2% compared to Q1 2024, but down by 21.8% when compared to the previous quarter.
Monstat clarified that the internal trade statistics reflect the turnover of companies whose primary activity is retail trade, and that turnover refers to the value of goods sold by companies to end consumers, including private individuals and legal entities for personal consumption or business activities.
Revenue and profit growth
As reported by the Bankar.me portal, Montenegro’s largest retail chains saw growth in nearly all business segments last year, including total revenues, profits, EBITDA, and employee numbers.
The top five retail companies—Voli Trade, IDEA CG, Hard Discount Laković, Domaća trgovina, and Megapromet—achieved total revenues of over €1.1 billion in 2024, an increase of €87 million from 2023, representing an 8.52% growth.
The total profit of the five leading chains rose to €36.5 million, a €3.63 million increase, or 11.04% compared to 2023 when the combined profit was €32.9 million.
Voli Trade led with the highest total revenue in 2024, reaching €368.9 million, a €12 million increase from the previous year, or a 3.5% growth. IDEA CG followed with €286.9 million, reflecting an 11.8% increase after its merger with France. Hard Discount Laković had €260 million in revenue, a €23 million increase, or a 9.8% rise, while Domaća trgovina reached €138.9 million with a 12.5% growth, and Megapromet earned €53.6 million, up €4.9 million, or 10% more than in 2023.
Voli also achieved the highest net profit, amounting to €16.3 million. It was followed by Hard Discount Laković with €11.3 million, IDEA CG with €4.71 million, Domaća trgovina with €2.35 million, and Megapromet with €1.84 million. IDEA CG recorded the highest relative profit growth at 28.33%, while Hard Discount Laković saw the largest absolute profit increase of €1.42 million.
Looking at the share in total profits and revenues across the five companies, Voli remains the leader with the highest percentage in both categories.
The total expenses of the five largest retail chains in Montenegro rose by 8.25% in 2024, reaching €1.08 billion. Domaća trgovina saw the highest increase in expenses at 12.66%, while IDEA CG and Hard Discount Laković also recorded double-digit growth. Voli Trade had the largest absolute expenses, although the growth was more moderate, at 3.54% in 2024.
